Shares of MR DIY Group Bhd soared on Thursday after reporting a bigger increase in its profit for the second quarter of 2023 that ended June 30.
MR DIY's net profit increased 11.19% to RM150.32 million from RM135.19 million in the same quarter last year.
In addition, it also recorded a 4.85% increase in revenue to RM1.1 billion compared to the RM1.05 billion recorded in the second quarter of 2022.
It follows a positive contribution from new stores, a more normal drop in transport costs to pre-pandemic levels and the impact of the price adjustment exercise carried out in the 2022 financial year.
MR DIY jumped 9.09% or 13 sen to RM1.56 with a market capitalization of RM14.62 billion, at the time of writing.
It is also one of the most active counters on the local exchange, with a total of 44.36 million shares traded.
